Cash for Clunkers Update: Dealers claim $1.03 billion

An article on AutoBlog yesterday is reporting that as of Friday August 7th over 245,384 Cash for Clunkers claims have been submitted, these 245,384 claims totals up to around $1,030,000,000, this leaves the Cash for Clunkers program just under $2 billion left, and at the rate that these claims are going through the recently government approved budget increase may not last much longer

The figures show that in a comparison between Wednesday and Friday a 33 percent jump in Cash for Clunkers claims occurred, this means that from Wednesday to the time of the approval on Fridays dealers were running the risk of their claims not being approved, luckily for them the claims did go through.

It is likely that the $2 billion budget increase will be the last for the Cash for Clunkers program, how long this budget increase will last is hard to say. Check out AutoBlog for further details.

Do you think another budget increase is likely?